Facebook Fined 4.7 Billion Naira Over Deceit In WhatsApp Acquisition Deal
Facebook is in trouble for not keeping its hands clean during the process that led to its acquisition of mobile messaging app, WhatsApp.
The European Union, EU antitrust regulators on Thursday said they would fine Facebook 122.4 million dollars, about 4.7 billion Naira for providing misleading information over its purchase of WhatsApp in 2014.
Here is Facebook’s offence. In 2014 when Facebook acquired WhatsApp, Facebook said it could not automatically match user accounts on its Namesake platform and WhatsApp but two years later launched a service that did exactly that.
The EU called the fine a “proportionate and deterrent fine”.
The European Commission acts as the EU’s competition watchdog.
“The Commission has found that, contrary to Facebook’s statements in the 2014 merger review process, the technical possibility of automatically matching Facebook and WhatsApp users’ identities already existed in 2014, and that Facebook staff were aware of such a possibility,” the Commission said.
The commission added that the fine would not reverse the Commission’s decision to clear the purchase of WhatsApp and was unrelated to separate investigations into data protection issues.